MetalsGrove finds more pegmatites at Upper Coondina as it waits for assays from first drill

MetalsGrove (ASX:MGA) on Monday highlighted its discovery of a host of potential pegmatite structures at the Chola prospect outside the boundary envelope of drilling activities, which have just finished. 

With Phase I drilling wound up at the Upper Coondina Lithium Project, battery metals supply chain hopeful MetalsGrove notes it has assays due back, as well as new ground on-site to explore. 

That could be a lucrative exercise: there has been very little activity on-site since 1968. 

“MetalsGrove is well positioned to hit the ground running in early 2023 with a busy pipeline of activity,” company chief Sean Sivasamy said. 

“Our first drilling programme was designed to confirm the width, tenure and mineralisation profile of the pegmatites, down from 60 to 120m plus depths, and we are confident these initial objectives have been achieved.” 

23 new pegmatite structures 

A technical survey which found a series of new potential pegmatite structures will now provide the targets needed for Phase II drilling on-site to be conducted next year. 

Pegmatites detected with underground imaging technology are “wider than mapped and sampled,” according to the company’s exploration geotechs. 

Those pegmatite targets occur within the boundaries of the Chola target, where first drilling at Upper Coondina has kicked off. 

What comes next? 

MetalsGrove will now move ahead with designing more surface sampling and mapping as it waits for Reverse Circulation (RC) drill assay results from the Phase I drilling at Chola. 

That field mapping will take place across all target areas (Chola, Happy Go Lucky, and Show River.) Underground imaging surveys will also target all the aforementioned areas. 

Assay results will inform the design of Phase II drill runs and those thereafter; the company is also planning its heritage compliance strategy ahead of future earth-disturbing activity

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